Tamilnad Mercantile Bank reports Q1 net profit

CHENNAI: Private sector Tamilnad Mercantile Bank has reported 11.53 per cent rise in its April-June quarter net at Rs 261.23 crore, the bank said on Monday. The Tuticorin-based over Century old bank had registered net profit at Rs 234.21 crore during the corresponding period of last year. Total business of the bank during the quarter under review grew by 9.40 per cent to Rs 84,300 crore as compared to Rs 77,056 crore registered in the corresponding quarter of last year, the bank said in a statement.